Financial

Iwasaki Gakuen and several banks have contributed to the second close of Sony and Daiwa's joint fund, which had raised $145m of a targeted $185m as of last month.

Ahead of our record-breaking GCV Innovation Summit in California this week, we are offering an excerpt from our latest World of Corporate Venturing 2020, analysing data from 2019 and the past decade, where we have combined data from GCV Analytics and data provider PitchBook.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Nihon Unisys, Mitsui Sumitomo Card Company, Union Pay International, JCB, SoftBank, KDDI and Credit Saison are all set to exit the mobile payment technology developer.

Fintech-focused venture firm Canapi Ventures has secured more than 35 banks and strategic investors as LPs for its first funds.

Visa and FIS joined an investor base that already includes Mastercard, as the Africa-focused payment technology provider closed its series B.

Mastercard-backed AvidXchange has received $260m in funding from investors including existing shareholder TPG Sixth Street Partners.

Michael McFadgen, formerly managing director at Nex Opportunities, has taken a partner position at Element Ventures, which is raising a $130m for its first fund.

The round, reportedly the largest ever for a France-based financial technology developer, took the total raised by the business banking app developer to $150m.

MassMutual Ventures has followed up on the $50m Southeast Asian fund it launched in late 2018 with a second vehicle dedicated to the region.

Poste Italiane and existing investors ABN Amro and BNP Paribas took part in a $98.1m round for open-banking software provider Tink, which is now valued at almost $460m.